Financial Data and Key Metrics Changes - Total revenue in Q3 grew 18% as reported and in constant currency, with a contribution from the new transaction model of approximately $124 million [8] - Billings increased 21% as reported and 20% in constant currency, with a contribution from the new transaction model of approximately $135 million [9] - Third quarter GAAP and non-GAAP operating margins were 25% and 38% respectively, reflecting year-over-year increases of approximately 330 and 120 basis points [10] - Third quarter free cash flow was $430 million, benefiting from earlier timing of billings and lower cash tax payments [10] Business Line Data and Key Metrics Changes - Strength was observed in AECO (architecture, engineering, construction, and operations), driven by sustained investment in data centers and infrastructure, offsetting softness in commercial [7] - The Autodesk Construction Cloud is gaining momentum, with significant migrations from competitors, indicating strong demand for integrated solutions [17][18] Market Data and Key Metrics Changes - The macroeconomic environment appears broadly stable, but uncertainty remains elevated, impacting guidance for fiscal 2027 [12] - The company is seeing strong engagement from customers, particularly in the AECO sector, with continued investment in digital infrastructure [59] Company Strategy and Development Direction - Autodesk is focused on the convergence of design and make in the cloud, leveraging AI and industry clouds to enhance product offerings and customer value [15][16] - The company aims to redefine its business model and go-to-market strategies, positioning itself for long-term growth and margin expansion [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate geopolitical and macroeconomic uncertainties while executing on strategic initiatives [4] - The company has raised its full-year guidance for billings and revenue, reflecting strong underlying business momentum [12][13] Other Important Information - The company plans to buy back approximately $1.3 billion of stock, a 50% increase compared to fiscal 2025 [13] - Autodesk is integrating AI capabilities deeply into its products, enhancing customer workflows and driving productivity [16][20] Q&A Session Summary Question: Insights on seats versus consumption AI monetization - Management highlighted a capacity challenge in industries served and the balance between human engagement and machine execution in future projects [26][27] Question: Fiscal 2027 outlook - Management indicated that while the business is performing well, there are risks of disruption and macroeconomic uncertainty that will be considered in future guidance [31] Question: Autodesk Construction Cloud penetration - Management noted that there is still room for increased penetration within existing accounts and emphasized the unique value proposition of their platform [35][37] Question: AI capabilities and their impact on retention and pricing power - Management confirmed that AI-driven capabilities are enhancing customer satisfaction and retention, with potential for incremental monetization opportunities [67][69] Question: Channel productivity and operational elements - Management stated that operational friction from the new transaction model is being addressed, and partners are beginning to see improved productivity [89][90]

Accessibility StatementSkip Navigation - Third quarter revenue grew 18 percent as reported, and on a constant currency basis, to $1.85 billion SAN FRANCISCO, Nov. 25, 2025 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2026, ended October 31, 2025. "We're defining the AI revolution for design and make, empowering customers with new task, workflow and system automations, and capturing shared value through subscription, consumption, and outcomes- ...

CHONGQING, CHINA AUGUST 26: In this photo illustration, a person holds a smartphone displaying the logo of Autodesk, Inc. (NASDAQ: ADSK), a leading American software company known for its design and engineering platforms such as AutoCAD, Revit, and Fusion 360, with the company's branding visible in the background on August 26, 2025 in Chongqing, China. (Photo by Cheng Xin/Getty Images)Getty ImagesAutodesk (NASDAQ:ADSK) is expected to announce its earnings on Tuesday, November 25, 2025. The firm currently ha ...

With a market cap of $63.8 billion, Autodesk, Inc. (ADSK) is a leading software company specializing in design, engineering, and digital content creation tools. Best known for products like AutoCAD, Revit, Fusion 360, and Maya, the San Francisco-based company serves industries such as architecture, construction, manufacturing, product design, and media/entertainment. Shares of the company have lagged behind the broader market over the past 52 weeks. ADSK stock has increased 2.4% over this time frame, whil ...

Core Insights - The comparison between Intuit (INTU) and Autodesk (ADSK) indicates that INTU stock may present a more favorable investment opportunity due to its valuation relative to ADSK stock [3][7] - Both companies operate in the software sector, focusing on different markets, with INTU specializing in financial software and Autodesk in design and engineering tools [3][4] - Both companies share similarities such as strong subscription-based business models and a focus on AI-driven automation and cloud services, which are crucial for navigating current market challenges [4] Financial Metrics Comparison - INTU exhibits a more favorable Price to Operating Income (P/OpInc) ratio compared to Autodesk, suggesting better valuation [7] - Despite the favorable valuation, Autodesk shows greater revenue and operating income growth, which may indicate underlying strengths in its business model [7] - A year-over-year analysis of key metrics is essential to determine if Autodesk's stock is overpriced, with ongoing underperformance in revenue and operating income growth supporting the notion of overvaluation [9][10] Investment Strategy Insights - The Trefis High Quality Portfolio employs a multi-factor approach to assess investments, aiming to mitigate stock-specific risks while providing potential upside [8][10] - The performance of the Trefis HQ Portfolio has outperformed the S&P, achieving returns exceeding 105% since its inception, highlighting the effectiveness of diversified investment strategies [10]

Financial Data and Key Metrics Changes - InMode generated revenues of $93.2 million in Q3 2025, down from $130.2 million in Q3 2024, which included $31.9 million in pre-order sales [6][7] - Consumables and service revenues were $19.9 million, up 26% year-over-year, driven primarily by markets outside the U.S. [6][7] - GAAP gross margins were 78%, down from 82% in Q3 2024, attributed to the impact of tariffs [7][8] - GAAP net income was $21.8 million, down from $50.9 million in Q3 2024, with diluted earnings per share at $0.34, down from $0.65 [9][10] Business Line Data and Key Metrics Changes - Minimally invasive platforms accounted for 75% of total revenues this quarter [7] - Sales outside the U.S. increased slightly to $40 million, or 43% of overall sales, a 10% increase year-over-year [7] - Sales and marketing expenses decreased to $44.9 million from $51.9 million in the same period last year [8] Market Data and Key Metrics Changes - The U.S. was the largest geographical revenue contributor, reaching $53.2 million [7] - The company currently has 284 direct sales reps and distributors covering more than 73 countries [8] Company Strategy and Development Direction - The company is focused on expanding its presence in high-growth markets, recently opening a new subsidiary in Argentina [3][4] - A new leadership addition, Michael Denison, was appointed as President of North America to streamline operations [5][28] - The company aims to launch new products in the aesthetic segment in early 2026, including new lasers [26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the marketplace but expressed confidence in the company's competitive advantages and strong financial position [5] - The company plans to remain conservative in its guidance for 2026 due to uncertainties in the market [14][16] Other Important Information - The company expects to begin generating initial revenue from its new subsidiary in Argentina by the end of 2025 [4] - Non-GAAP gross margins are expected to remain between 78%-80% for 2025 [10] Q&A Session Summary Question: Guidance for Q4 and 2026 sales growth - Management indicated it is too early to discuss guidance for 2026 and prefers to see how Q4 plays out first [14] Question: Capital equipment environment and interest rates - Management noted that while interest rates have come down, it has not yet significantly impacted capital equipment financing [16][17] Question: Updates on ophthalmology initiative - The company is separating sales teams for the Envision initiative and has made progress with the American Optometrist Association [20][21] Question: New product pipeline in aesthetics - New lasers complementary to the aesthetic portfolio are expected to be launched in early 2026 [26] Question: Rationale for appointing Michael Denison - Denison was chosen for his extensive experience and knowledge of the market, aiming to unify North American operations under one management [28][29] Question: Urology business expectations - The company is launching urology products and will assess their performance by the end of the year [30] Question: Strength in OUS business and future trends - The company is currently selling in 88 to 90 countries and does not plan to add more countries in 2025 [33][34] Question: Non-invasive growth and consumables - The company sold about 230,000 disposable handpieces in Q3 2025, indicating a sequential increase [41]

1 2 A retrospective A AUTODESK Long history of leading market on major technology shifts Future: AI-enabled Future: AI loud-native Design and Make Design, Make, assisted design features SaaS products and Operate Shift away from deign Creating unique IP Build out new Leveraging commodity Expand our paradigm to the applications that are cloud through foundation only to design and make AI tools and custom operation of buildings, native and integrate with by expanding into models that drive AI foundation models ...

Company Overview - Autodesk, Inc. (ADSK) has a market cap of $69.3 billion and is a global leader in 3D design, engineering, and entertainment software, serving various industries including architecture, construction, manufacturing, and digital media [1] - The company's product portfolio includes popular solutions such as AutoCAD, Revit, Fusion, Maya, and BIM Collaborate Pro, which facilitate design, simulation, collaboration, and visualization [1][2] Stock Performance - Autodesk's shares have decreased by 1.6% from its 52-week high of $329.09, while the stock has increased by 8.8% over the past three months, underperforming the Technology Select Sector SPDR Fund (XLK), which rose by 12.6% during the same period [3] - Year-to-date, Autodesk's shares have risen by 9.5%, lagging behind XLK's return of 16.7%, and over the past 52 weeks, ADSK stock has increased by 25.7%, compared to XLK's nearly 29% gain [4] Financial Performance - In Q2 2026, Autodesk reported adjusted EPS of $2.62 and revenues of $1.76 billion, exceeding expectations, with notable growth in AECO revenues and robust subscription sales [5] - Billings grew by 36% to $1.68 billion, indicating broad-based momentum, and Autodesk raised its 2026 revenue guidance to a range of $7.03 billion to $7.08 billion, with adjusted EPS projected between $9.80 and $9.98 [5] Competitive Position - Compared to rival Salesforce, Inc. (CRM), which has seen a YTD decline of 25.7%, Autodesk's stock performance has been stronger [6] - Analysts maintain a bullish outlook on Autodesk, with a consensus rating of "Strong Buy" from 28 analysts and a mean price target of $362.74, representing a 12.6% premium to current levels [6]

Summary of Autodesk (ADSK) 2025 Conference Call Company Overview - **Company**: Autodesk (ADSK) - **Date**: September 04, 2025 - **Key Speakers**: Sid Huxar (VP of Construction), Mike Haley (SVP of Autodesk Research), Simon (Investor Relations) Core Industry Insights - **Industry Focus**: Construction, Manufacturing, Media Entertainment - **Key Challenges in Construction**: - Labor shortages with nearly 40% of the workforce expected to retire in the next three years [78] - Supply chain issues affecting margins [79] - Rising interest rates impacting project financing, particularly in multifamily residential sectors [80] AI Strategy and Implementation - **AI Strategy**: - Focus on automating tedious tasks across design and construction workflows [10][11] - Enhancing user experience by simplifying complex software through AI [12][13] - Continuous improvement of AI tools based on user feedback, with an 80% acceptance rate of AI predictions in new features [22][21] - **AI Lab**: Established in 2018 to develop AI capabilities tailored to Autodesk's unique data and workflows [15][16] - **Product Development**: Introduction of AI-driven features like "auto constraint" in Fusion, which has seen rapid adoption and positive feedback [19][20] Market Position and Competitive Landscape - **Competitive Advantage**: - Autodesk is a leading publisher of scientific information in AI for design, with a significant head start over competitors [50][51] - The complexity of design data creates barriers for new entrants, making it difficult for startups and traditional competitors to replicate Autodesk's capabilities [52][56] - **Future Competition**: Anticipation of increased competition, particularly from new entrants and traditional software companies beginning to invest in AI [58] Financial and Growth Outlook - **Growth Trajectory**: The construction business is expected to grow at a rate similar to the make business, around 20% [93] - **International Expansion**: Significant growth opportunities identified in markets like India and the Middle East [95] - **Customer Engagement**: Increased traction with large contractors and owners, who are becoming more accountable for project outcomes [99][100] M&A Strategy - **M&A Focus**: Autodesk aims to invest in adjacent verticals and technology enhancements, with a capital allocation strategy that includes R&D and share repurchases [74] Conclusion - **Overall Outlook**: Despite challenges in the construction industry, Autodesk remains optimistic about its growth prospects, driven by strong backlogs, international expansion, and the successful integration of AI into its product offerings [82][84]

Financial Performance - Q2 FY26 - Billings reached $1,678 million, a 36% year-over-year increase[5] - Revenue totaled $1,763 million, up 17% year-over-year[5] - GAAP operating margin was 25%, a 2 percentage point increase[5] - Non-GAAP operating margin was 39%, a 1 percentage point increase[5] - Free cash flow was $451 million, a 122% increase[5] Revenue Breakdown - Q2 FY26 - Design revenue was $1,472 million, up 17% year-over-year (18% in constant currency)[7] - Make revenue was $194 million, up 20% year-over-year (20% in constant currency)[7] - Americas revenue was $786 million, up 19% year-over-year (19% in constant currency)[7] - AECO revenue was $878 million, up 23% year-over-year (24% in constant currency)[7] FY26 Outlook - Billings are projected to be between $7,355 million and $7,445 million[9] - Revenue is projected to be between $7,025 million and $7,075 million[9] - Free cash flow is projected to be between $2,200 million and $2,275 million[9]